Prime US REIT is divesting an office asset in Boca Raton, Florida for USD82 million.

The asset is a 10-storey Grade A office tower known as One Town Center and it is being sold to Miles Capital, an unrelated third party to the REIT.

Prime US REIT is a Singapore Exchange (SGX)-listed but US-focused office REIT that owns a portfolio of 14 assets across the country.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.